TickSmith, a Montreal, Canada-based provider of big data applications for capital markets, secured C$2m in funding.
Illuminate Financial Management, a venture capital firm with a specific focus on capital markets financial technology, made the investment.
The company intends to use the funds to further commercialize its flagship product, TickVault.
Led by Francis Wenzel, CEO and co-founder, TickSmith provides the TickVault financial data lake platform, used for data centralization and distribution, market surveillance, risk management, strategy discovery and analytics. The solution is used by trading and risk groups, regulators, exchanges and data vendors who need to accumulate, transform, analyze and disseminate larger scales of financial data from multiple sources.
In addition to complying with new post-trade reporting and risk requirements, such as MiFID II and The Fundamental Review of The Trading Book (FRTB), TickVault also provides access to all this information via a single source of data for internal compliance and risk management teams.